Acquisition & Trading Update
06 April 2006 - 4:01PM
UK Regulatory
RNS Number:1341B
Hyder Consulting PLC
06 April 2006
HYDER CONSULTING PLC ("Hyder Consulting" or the "Company")
ACQUISITION AND TRADING UPDATE
TRADING UPDATE
The board is pleased to report that trading conditions in our major markets
continue to be strong and that we expect that the results for the year to 31
March 2006 will be slightly ahead of expectations.
ACQUISITION OF CRESSWELL ASSOCIATES
The Company has entered into an agreement to acquire the entire issued share
capital of Cresswell Associates (Environmental Consultants) Limited, a
specialist consultancy providing environmental services to the planning,
construction and development industries. The initial consideration for the
acquisition amounts to #2.98 million of which #2.48 million is payable in cash,
with #0.5 million satisfied by the issue of 188,558 Hyder Consulting PLC shares
("the Consideration Shares"). A further payment of up to #0.5 million is
payable in cash over three years dependent on future business performance.
Turnover for the year to 30 September 2005 was #2.46 million, and profit before
interest and tax was #0.6 million. The net assets acquired amount to about #0.7
million. Cresswell Associates employs a team of 54 staff which will extend Hyder
Consulting's environmental capabilities in this growing market.
APPLICATION FOR ADMISSION
Application will be made for the Consideration Shares, which rank pari passu in
all respects with the existing issued ordinary shares in the Company, to be
admitted to the Official List and to trading on the London Stock Exchange's
market for listed securities. Admission is expected to become effective on 12
April 2006.
Tim Wade, Chief Executive of Hyder Consulting commented, "I am delighted we have
acquired Cresswell Associates, which is in line with our 'in-fill' acquisition
strategy to find high quality, specialist consultancies that will strengthen our
skill base and geographical coverage."
For further details:
Tim Wade, Chief Executive, Hyder Consulting Plc Tel: 020 7316 6000
Simon Hamilton-Eddy, Financial Director, Hyder Consulting Tel: 020 7316 6000
Plc
Shane Dolan, Biddicks Tel: 020 7448 1000
6 April 2006
This information is provided by RNS
The company news service from the London Stock Exchange
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